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Dutch USD 200 million Ponzi Scheme: Quality Investments - Four Dutch arrested - raids conducted in 7 countries

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Four Dutch citizens have been arrested in a fraud probe on two continents into a company specialising in life insurance that took more than $200 million from investors, prosecutors said Wednesday.


During the last 24 hours, intelligence services and Dutch tax investigators and authorities in other countries had raided 27 locations in the Netherlands, Spain, Turkey, Dubai, Britain, Switzerland and the United States.


They seized real estate, cars and luxury watches, boats and a plane worth several million euros to "secure as much money as possible for investors" who had been defrauded, Dutch financial prosecutors said in a statement.


The four suspects are linked to a company called Quality Investments and were arrested "on suspicion of being involved in a criminal organisation, forgery and fraud."


 


Provident Capital Indemnity Ltd., the Costa Rica-based firm accused by U.S. prosecutors and the Securities and Exchange Commission in January of conducting life settlement bonding fraud, would provide the securities, the Dutch authorities said.


http://www.expatica.com/nl/news/dutch-news/four-dutch-arrested-in-multinational-fraud-probe_178468.html


http://www.businessweek.com/news/2011-09-28/dutch-arrest-four-men-suspected-of-200-million-ponzi-scheme.html

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